Average Tax Assessment in Midland County
Real Estate Values and Property Tax Valuation in Midland County, Texas
Midland County has 55,001 properties with a cumulative value of $13.9B, representing 0.65% of all real estate value in Texas. The average property tax rate in Midland County is 1.38%, lower than the state average of 1.69%. Property taxes in Midland County total $191.9M, with the average homeowner paying $3,558 in property taxes compared to the state average of $4,015. Property taxes are based on the assessed value of the property, which is typically lower than the market value.
The property tax timeline in Texas begins on January 1st, when the property valuation date is set. Property value notices are issued between April and May, and the property tax appeal deadline is May 15th or 30 days after the notices are issued. The real property tax bill is due on January 31st for the preceding year's gross tax bills.
Updated November 01, 2023
| Important Links | |
|---|---|
| Midland Clerk | (432) 688-4401 |
| TexasFile Clerk Records | - |
| Midland Appraisal District | (432) 699-4991 |
| Midland Equalization Office | (989) 832-6844 |
| Important Dates | |
|---|---|
| Real Property Tax Bill Due (1st of #): | January 31st, Gross tax bills for preceding year |
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | April - May |
| Property Tax Appeal Deadline: | May 15th or 30 days after notices are issued |
| Property Tax Bills Issued: | October 1st |
| Available Exemptions | |
|---|---|
| Early Payment Discount | |
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Midland County
Residential Property Taxes by Cities in Midland County
Midland County has an average property tax rate of 1.38%, which is slightly higher than the state average of 1.33%. The city of Midland has the highest effective property tax rate in the county at 1.39%, while the city of Odessa has the lowest effective property tax rate at 1.13%. This means that homeowners in Midland will pay slightly more in property taxes than those in other cities in the county. However, the difference in rates is not significant and the average property tax bill in Midland County is still relatively low at $3,558.
Overall, Midland County has a relatively low property tax rate compared to other counties in the state. The difference in rates between cities in the county is also minimal, meaning that homeowners in Midland County can expect to pay a reasonable amount in property taxes regardless of where they live.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Midland County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Midland County.
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
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Real Estate Values in Midland County
The data from Redfin shows that home prices in Midland County, Texas have seen a significant increase from October 2022 to October 2023, with a 73.97% increase in median home price. This is likely due to the decrease in home inventory in the area, as the number of homes available for sale dropped from 856 in October 2022 to 642 in October 2023. This decrease in inventory has likely caused an increase in demand for homes in the area, leading to the increase in home prices.
Average Home Value in Midland County, Texas
Last updated: November 2023
Percent Change in Total Home Sales in Midland County
Last updated: November 2023
Percent Change in New Home Listings in Midland County
Last updated: November 2023
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Mortgage Rates in Midland County
Midland County has an outstanding loan amount of $5.7 billion across home mortgages. This represents 25,300 individual loans, which is a significant portion of the total home value in the county. The median mortgage rate in Midland County is 3.94%, which is slightly higher than the median rate in Odessa, which is 3.7%. This difference in rates is indicative of the variation in mortgage rates across counties, with Midland County having a slightly higher rate than Odessa. However, the difference is not significant, and the overall mortgage rate in Midland County is still relatively low. This makes it an attractive option for potential homebuyers looking to purchase a home in the area.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Midland County by city.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Midland County.
Housing Expenses in Midland County, Texas
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